SA home services portal Kandua closes ‘significant’ funding round

Joburg-based home services marketplace Kandua announced the close of a “significant” pre-series A funding round in a statement today. The round was led by Knife Capital and Allan Gray E-Squared Ventures.

Kandua helps homeowners find rated artisans 

The startup was founded by Arjun Khoosal (CTO), Sayo Folawiyo (CEO) and Lucas du Toit in 2014. The Kandua platform connects artisans to users in need of help around their homes. The offering also helps listed contractors with tools around finance, marketing and operations to improve their business and provides digital financial services.

Connecting artisans and homeowners

The marketplace for artisans was previously featured on Ventureburn in 2018 after securing a partnership with French retailer, Leroy Merlin. The continued success of that partnership plus several other investments from angel investors, the ASISA ESD Initiative, IDF Capital and the Catalyst Fund has given the company further opportunities for expansion. 

Knife Capital Investment Partner, Keet Van Zyl, commented on the round in a statement.“Kandua is an exciting investment to add to the Knife Capital venture capital portfolio. The business has grown significantly over the past 18 months and has now reached a breakout point of scale to ramp up both B2B and B2C activities,” he said.

Ventureburn asked CEO Folawiyao about his feelings on the round. “I feel pretty good now that the round is closed and even better with the funders that we have closed with. They believe in what we do and have shown that with their chequebook. We look forward to continuing to build far-reaching value with them,” he stated.

“Kandua is bringing skilled, vetted and verified service providers and customers closer together – advancing job creation in the process. It is the kind of business we are proud to support,” commented Nicolaas Botha from Allan Gray in a statement.

Folawiyo is excited about the social impact of Kandua’s business. “We are democratising access. Market access, predominantly, but also access to useful products and services for a market that, despite skill and expertise, is often excluded by not having the right set-up or the right awareness to access these opportunities. Our ‘North Star’ is Kandua’s positive effect on the profit and loss of small service businesses,” he said.

Read more: SA startup Kandua announces partnership with French retailer Leroy Merlin
Read more: BlueAvo – disrupting recruitment in SA’s media industry

Featured image: (Left to right) Kandua co-founders Sayo Folawiyo (CEO) and Arjun Khoosal (CTO) (Supplied)